The St. Louis Region Has Plenty To Offer For Real Estate Development.
Ever since the city won the World Leadership Award for urban renewal, real estate development in St. Louis has been on an upswing. With a central location, business friendly climate and diverse civic amenities, St. Louis attracts developers looking to build and fill new commercial and industrial real estate.
St. Louis enjoys an extremely central location near the center of the continental United States. For warehousing and distribution applications, you can’t find a better large city. Interstates 55, 70 and 84 connect St. Louis directly to Chicago, Kansas City, Denver, Memphis and New Orleans. At the same time, St. Louis also has a large river port, connecting it to Mississippi River barges, and both rail and air service. The community enjoys service from six different Class I railroads and 13 different air carriers. St. Louis’ secondary cargo airport can handle 4 747’s at once. Ultimately, real estate development in the community creates easy-to-tenant buildings thanks to the city’s highly connected-nature.
Businesses of all types have already chosen St. Louis. Home to nine Fortune 500 headquarters, St. Louis features an extremely diverse economy. The companies in the community include agribusiness, healthcare, financial services and high-tech manufacturing. St. Louis also has a strong aerospace history as well as exposure to retail and logistics companies. Financial services companies can be particularly well served by being located close to St. Louis’ Federal Reserve Bank — one of two in Missouri.
Real estate development in St. Louis benefits from low costs all-around. In one ranking, St. Louis ranked as the least expensive metropolitan area out of 200 competitors. Accounting and consulting firm KPMG LLC ranked St. Louis as the number seven most cost-competitive large community in the US out of 22 cities with 2 million or more people.
Utilities in St. Louis are some of the most affordable in the country. Electric rates for commercial and industrial users is less than 70 percent of the national average. Taxes are low, too. The Tax Foundation ranks Missouri’s corporate income tax as the fifth best in the country. The business climate is strong, too. Missouri’s ranks number 16 and Illinois’, right across the river, ranks 23.
St. Louis isn’t just a business destination, either. Whether your real estate development is being built on spec or you have a pre-leased tenant, your tenant’s employees will benefit from the community’s diverse load of amenities. The companies can hire out of two world-class universities — Washington University in St. Louis and St. Louis University. The fifth-largest hospital in the world, Barnes-Jewish, is in St. Louis. In addition, the community features hockey, football and baseball teams and a nearby NASCAR racetrack. St. Louis jazz and blues are world renowned, as well.
With over 5 million square feet worth office, warehouse/distribution and light manufacturing space, enjoying access to the community’s extensive road and rail network, Clark Properties can help you take advantage of everything that St. Louis has to offer your company. Whether you need real estate development assistance to help make your project a success or you’re just looking for an excellent space to rent, we’re here to help. If you have any questions about the St. Louis region, give us a call. We’d love to talk about of the diverse properties we have available.